Title: AN ACT TO PROVIDE FOR A TAX CREDIT AGAINST THE AMOUNT OF AD VALOREM TAXES DUE DURING THE TAXABLE YEAR ON ANY MOTORCYCLE; TO CREATE IN THE STATE TREASURY A SPECIAL FUND TO BE KNOWN AS THE MOTORCYCLE AD VALOREM TAX REDUCTION FUND, WHICH SHALL BE USED FOR THE PURPOSE OF MAKING PAYMENTS TO LOCAL TAXING DISTRICTS FOR THE REDUCTION IN MOTOR VEHICLE AD VALOREM TAX REVENUES AS A RESULT OF SUCH CREDIT; TO PROVIDE FOR THE MANNER IN WHICH THE PAYMENTS TO LOCAL TAXING DISTRICTS ARE TO BE MADE; TO AMEND SECTION 27-65-75, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT A CERTAIN AMOUNT OF THE REVENUE GENERATED BY THE SALES TAX ON SALES OF MOTORCYCLES SHALL BE DEPOSITED INTO THE MOTORCYCLE AD VALOREM TAX REDUCTION FUND; TO AMEND SECTION 27-67-31, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT A CERTAIN AMOUNT OF THE USE TAX COLLECTED ON MOTORCYCLES SHALL BE DEPOSITED INTO THE MOTORCYCLE AD VALOREM TAX REDUCTION FUND; AND FOR RELATED PURPOSES.

Information pertaining to this measure was last updated on 09/13/06 at 16:49.